ADP Expects Indemnification for Istanbul Airport, Tribune Says

Aeroports de Paris expects to be
indemnified by the Turkish government if a third Istanbul
airport is built, La Tribune reported, citing the French
company’s chief executive officer, Pierre Graff.

Aeroports de Paris (ADP) paid $874 million last March for a 38
percent controlling stake in TAV Havalimanlari Holding AS (TAVHL), which
operates Istanbul’s main Ataturk airport. The Turkish government
last month asked for tenders to build a third airport, which
would either force indebted ADP to invest more money in its
construction or see Ataturk’s traffic siphoned away, La Tribune
said.

The third airport may not be open before ADP’s concession
at Ataturk expires in 2020, the French Web-based business
newspaper said.